It goes far beyond that. The US is ten years over built. The flippers seduced into the market hid the extent of the oversupply from those who actively desired not to see it for about ten years, but in the end that allowed things to get worse.

The market isn’t even close to corrected yet and has a quite a fall left before it bottoms out.

6 posted on 08/29/2011 8:16:08 AM PDT by MrEdd
(Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)